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**UPDATE - THIS DISCLOSURE IS NO LONGER REPORTABLE ON THE CURRENT U4 BECAUSE IT WAS FILED MORE THAN 24 MONTHS AGO AND DID NOT SETTLE FOR $15,000 OR MORE** CLIENT ALLEGES SUITABILITY - ACTIVITY DATES ARE FROM 12/14/07 THRU 12/14/2007.
Broker Comment
**UPDATE - THIS DISCLOSURE IS NO LONGER REPORTABLE ON THE CURRENT U4 BECAUSE IT WAS FILED MORE THAN 24 MONTHS AGO AND DID NOT SETTLE FOR $15,000 OR MORE**
11/3/1998
Customer Dispute
Withdrawn
Allegations
FAILURE TO FOLLOW INSTRUCTIONS-FIRM ESTIMATES
ALLEGED LOSS AT $30,000.00 INVESTMENT PRODUCT INVOLVED: MANAGED
ACCOUNT.
Damage Amount Requested
$30,000.00
Broker Comment
LETTER RECEIVED FROM CLIENT, WITHDRAWING ALL
CLAIMS.
THE CLIENT ALLEGES THAT HE INSTRUCTED ME TO
LIQUIDATE AN ACCOUNT DURING A PHONE CONVERSATION IN 7/98. WHILE
THE ACCOUNT WAS DISCUSSED DURING THAT CALL, NO INSTRUCTIONS TO
LIQUIDATE WERE GIVEN TO ME BY THE CLIENT. IN FACT, A
RECOMMENDATION WAS MADE TO ADD FUNDS TO THE ACCOUNT. OVER THE
NEXT MONTH, I KEPT THE CLIENT UPDATED ON THE PERFORMANCE OF THE
ACCOUNT THROUGH WRITTEN CORRESPONDENCE AND PHONE CONVERSATIONS.
IN 11/98, AFTER 3-1/2 MONTHS, THE CLIENT FILED A WRITTEN
COMPLAINT ALLEGING THAT HE DID NOT KNOW THE ACCOUNT HAD NOT
BEEN LIQUIDATED, AND THAT HIS ALLEGED INSTRUCTIONS WERE NOT
ACTED UPON.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.